US monthly oil rig count rises for first time since Nov -Baker Hughes - Reuters
US monthly oil rig count rises for first time since Nov -Baker Hughes | Reuters
US monthly oil rig count rises for first time since Nov -Baker Hughes
Oil field workers prepare a swabbing rig in a cotton field in Seminole, TX, U.S. September 19, 2019. REUTERS/Adria Malcolm/File photo Acquire Licensing Rights
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Oct 27 (Reuters) - The U.S. monthly oil rig count rose for first time since November after drillers added rigs for a third week in a row, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.
The oil and gas rig count, an early indicator of future output, rose one to 625 in the week to Oct. 27. , ,
U.S. oil rigs rose by two to 504 this week, while gas rigs by fell by one to 117.
For the month, drillers added two rigs, putting the total oil and gas count up for the first time since March.
In October, the oil rig count rose by two in its first monthly increase since November, while the number of gas rigs increased by one for a second month in a row.
U.S. oil futures were up about 6% so far this year after gaining about 7% in 2022. U.S. gas futures , meanwhile, have plunged about 28% so far this year after rising about 20% last year.
Reporting by Scott DiSavino Editing by Marguerita Choy
Our Standards: The Thomson Reuters Trust Principles.
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